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1. Unsecured Lending

Definition:
An unsecured loan is a structured financial product designed to meet the needs of eligible customers seeking long-term financing without requiring collateral.

Purpose:
This loan can be used for various purposes such as debt consolidation, medical expenses, home improvements, land purchases, starting a business, school fees, or purchasing imported goods.

2. Features of Unsecured Loans

Loan Amounts:

Minimum: M1,500.00

Maximum: M800,000.00

Interest Rates:

Personalized according to individual profiles.

Repayment Terms:

Minimum: 12 months

Maximum: 84 months

No Collateral Requirement:

These loans do not require any assets as security.

3. Benefits of Unsecured Loans

Quick Access to Funds:

Available digitally and manually.

Digital loans are accessible instantly via internet banking.

Manual applications are processed within 48 hours.

Insurance Protection:

Includes Personal Loan Protection Plan (PLPP) covering death, loss of employment, or disability. There is also a cash back on the insurance plan, funeral benefit of up to M50000.00 and many more.

No Risk to Personal Assets:

No collateral needed, reducing the risk to the borrower.

4. Eligibility Criteria

Credit Score:

Minimum BBI 19

Income Requirements:

Proof of income or employment status

Documentation:

Valid identity document

Proof of residence

Other Requirements:

Must be a resident of Lesotho and over 18 years old.

5. Considerations and Risks

Impact on Credit Score:

Late payments, dishonoured checks, and overdrafts can negatively affect your credit score.

Affordability:

Borrowers are encouraged to assess their repayment capacity before taking a loan.

6. Contact Information

Customer Service:

Phone: 2221 2221 / 8002 2221 email: [email protected]

Branches:

Manual applications can be submitted at any of our 18 branches nationwide.

Website:

https://ibanking.standardlesothobank.co.ls/#/login

7. Testimonials and Case Studies

Customer Stories:

Hear from previous borrowers about their positive experiences.

Success Metrics:

Data and statistics showcasing customer satisfaction and successful loan disbursements.